Solana price rally accelerated as SOL jumped above $240, its highest level since January, according to the source. The move also pushed the token past Binance Coin by market value.
Solana overtakes BNB by market cap
Solana has officially surpassed BNB to become the fifth-largest cryptocurrency by market capitalization. As of September 12, 2025, its market cap rose to over $129 billion. This shift, reported alongside the Solana price rally, reflects growing demand.
Market watchers note that such flips can reshuffle crypto rankings. Even so, positions may change quickly during volatile periods.
Institutions pile in as upgrades land
Institutional interest is a key driver. Forward Industries, backed by Galaxy, Jump, and MultiCoin, raised $1.65 billion for a Solana-focused treasury. Meanwhile, Galaxy Digital reportedly acquired $486 million worth of SOL in the past 24 hours.
On the technical side, Solana validators approved a major part of the “Alpenglow” upgrade with a 98% success rate. The change is expected to cut latency to as little as a tenth of a second and improve decentralization.
Together, these factors have coincided with the Solana price rally, and liquidity and throughput narratives are gaining attention.
Why it matters now
Faster confirmation times could benefit traders, apps, and payment use cases. Therefore, developers are watching how the upgrade rolls out on mainnet.
– Rising market cap highlights shifting investor focus.
– Large buys signal strong institutional conviction, per reports.
– Lower latency may improve user experience and resilience.
For background on crypto market benchmarks, see how market capitalization is tracked.
Curious how fiat-pegged tokens fit into this story? Read our guide on how stablecoins work to understand liquidity flows.
